Inspired by the OP I did some testing today in 172SP with 2nd set of eyes/pilot and video as proof. This was done at a safe altitude, wind light and variable, from simulated take-off climb at Vy (74 KIAS) following by 4 seconds of "oh ****" moment, dropped the nose to achieve Vbg, waited 4 more seconds, 45-degree bank coordinated turn of 180 degrees, all 4 attempts resulted in 250-300 ft loss of altitude. I am aware that the required turn is in fact more than 180 degrees, but we can extrapolate. I am tempted to try this for real, with a capable CFI next to me of course!
CoopAir,
do you have the videos from 500 and 400 ft AGL? How did it go ?